Frequently Asked Questions
The global Scheelite market was valued at USD 83.9 Billion in 2022.
The Scheelite market is expected to grow at a CAGR of 4.50% between 2023 and 2030, reaching USD 119.31 Billion in 2030.
98.0% is the leading segment by purity, holding over 43% share in value in 2022
The tungsten alloy segment governs the demand for scheelites globally, holding a massive share of over 40% in 2022, and is also expected to grow at a rapid CAGR.
The mining segment is expected to post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the scheelite industry with over 43% share in 2022.
The top players include American Elements, Sanher Tungsten Vietnam Co., Ltd., Maruti Enterprise, and Arth Metallurgicals Pvt.Ltd, United Wolfram, Anchor Chemicals Industries, and Sun Industries.
The increasing use of tungsten in numerous end-use sectors is the major market driver.
The major market restraints are the high cost of tungsten manufacturing and its price volatility, which can impact the profitability of scheelite mining operations.
Growing investment in the mining industry, notably in nations like China, Russia, Canada, and Australia, which are among the top producers of scheelite, is supporting the expansion are the major opportunities in the Scheelite industry.